Trinidad and Tobago: Income and profits taxes
* indicates monthly or quarterly data series
| Trinidad and Tobago |
Income, profits, and capital gains taxes: percent of revenue |
|---|---|
| Latest value | 60.89 |
| Year | 2007 |
| Measure | percent |
| Data availability | 1993 - 2007 |
| Average | 48.15 |
| Min - Max | 33.70 - 63.96 |
| Source | The World Bank |
The latest value from 2007 is 60.89 percent, a decline from 63.96 percent in 2006. In comparison, the world average is 26.08 percent, based on data from 110 countries. Historically, the average for Trinidad and Tobago from 1993 to 2007 is 48.15 percent. The minimum value, 33.7 percent, was reached in 1998 while the maximum of 63.96 percent was recorded in 2006.
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Definition: Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Fiscal balance, percent of GDP | -1.70 | 2023 | percent |
| Government debt | 67.60 | 2023 | percent |
| Tax revenue | 25.06 | 2007 | percent |
| Commercial tax rate | 40.50 | 2019 | percent |
| Tax preparation time | 210 | 2019 | hours |
| Number of taxes | 39 | 2019 | taxes |
| Taxes on goods and services | 15.78 | 2007 | percent |
| Taxes on international trade | 5.11 | 2007 | percent |
| Income and profits taxes | 60.89 | 2007 | percent |
| Foreign aid | 4.34 | 2010 | million U.S. dollars |